STV Group plc today announces that it expects Total Advertising Revenue (TAR) to be up 22-24 per cent for the year ending 31 December 2021, delivering its highest-ever advertising revenues and growth of over ten per cent compared to financial year 2019.
Within that, STV expects regional advertising to finish the year strongly, up around 20 per cent for 2021, despite only dropping five per cent during 2020 when the pandemic was at its height, and 15 per cent ahead of 2019.
VOD advertising on the STV Player is expected to be up 35-40 per cent for the full year, over 50 per cent ahead of 2019 levels.
STV delivered a nine-month TAR of +28 per cent (guidance: +25-30 per cent) and a Q3 TAR of +22 per cent (guidance: +20-25 per cent). Within that regional advertising was up 13 per cent in Q3 (guidance:
+10-15 per cent) and Q3 VOD advertising was +44 per cent (guidance: +40-45 per cent).
Q4 advertising has shown continued good momentum, despite strong comparators from Q4 2020, and is expected to deliver TAR growth of +13-15 per cent, with regional advertising up a further 15-20 per cent and VOD up around ten per cent. Within that, October TAR was +15 per cent, November +20 per cent and December is expected to be up five to ten per cent
Additionally, STV announces that the STV Growth Fund will be increased from £20m to £30m in 2022. Since launch in 2018, the STV Growth Fund has allocated £15.7m across more than 700 deals with Scottish SMEs, attracting over 300 new advertisers to television.
Previous guidance that STV Studios is on track for its best-ever financial performance in 2021, with full year revenue of £20-25m, is reconfirmed today.
STV chief executive, Simon Pitts, said: “The speed and scale of the advertising recovery in 2021 has far exceeded our expectations and underlines the enduring power and relevance of high-quality video advertising.
“2021 will deliver STV’s highest-ever advertising revenues, with brands choosing broadcast and video on demand advertising to boost their post-Covid recovery due to its unrivalled levels of trust, brand safety and value.
“I’m very proud that our STV Growth Fund has now enabled over 300 Scottish SMEs to access TV advertising for the first time, including around 150 since the start of the pandemic. I’m delighted to announce that the fund will be increased to £30m in 2022 to help drive Scotland’s economic recovery.”
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